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ATLANTA-A 105-year old wagon factory in East Point, GA, a town founded as a railroad terminus and now in the shadow of Atlanta’s huge airport, is counting on MARTA, the rapid rail system, to be its lifeline. The only missing means of transportation in this scenario is via water since the Chattahoochee River is far west of the town.

The Wagon Works, which was last used as office space, has been purchased by local developer Braden Fellman Group for conversion to loft office space. Fellman paid $3 million for the 110,000-sf, 1895 red brick building. The company plans to invest another $1.6 million for the conversion of the structure, including wiring to handle the latest high-tech demands. The building will retain its name.

Fellman has three baits for tenants. In that East Point is undiscovered as a hip place to locate, the company plans to offer low rates for space, $12.50 per sf–a bargain for loft office space in the metro market.

Another attraction is ample free parking and a third is the MARTA station just across the railroad tracks from the Wagon Works. All signs point to an OK from the Georgia Department of Transportation for $1 million in funding to build a skywalk to connect MARTA with the Wagon Works and the nearby Buggy Works, slated for condo-retail redevelopment. Fellman Group is also redeveloping a 1926 ice house in Decatur into loft apartments.

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